Category: Industry expert

Ever had a “Eureka” moment when you’ve hit upon a million dollar idea? But then you shrug off the idea because it’s completely absurd. Well, have we got news for you! Often, it’s the most ridiculous of ideas that work and go on to make millions! Below is a list of our favorite ridiculous business ideas that made their owners millionaires.

It’s common knowledge that businesses face cash crunches and issues with capital from time to time. With money issues comes a myriad of other issues that may lead to defaulting of loans and economic offences. Such issues can come knocking on your door anytime, whether you are a seasoned businessman or a first time entrepreneur. And nobody wants to find themselves tagged as a “big time” economic offender. So what can you do to ensure that you don’t find yourself in such a situation?

It isn’t everyday that you come across a barber who owns a Rolls Royce and still cuts his customers’ hair for Rs.150! If there’s one person that the old proverb, “fortune favours the brave” tells a story about, it’s Ramesh Babu, the billionaire barber in Bengaluru with a fleet of luxury cars.

All businesses, at some point of time, would require a financial impetus to help with their expansion goals or capital needs. A popular way to finance this is to avail a commercial loan. But how sure are you that your loan application will be sanctioned by the lender? Here are three factors that one must keep in mind before applying for a Business loan.

The MSME industry in India contributes to almost 40% of the gross industrial value. As a result of this, it has an extended support system from the central and state governments these days. In an effort to further simplify the processes within the industry, the Udyog Aadhaar registration was introduced. The Udyog Aadhaar (UA) is nothing but an ID for your business much like the Aadhaar cards we have for ourselves. It’s a 12-digit number that helps the government identify your company and gives you a slew of benefits under the MSMED Act of 2006.

Post GST into effect, SMBs in India will not use multiple points and application software for accounting, but rather upload invoices on the GST Network (GSTN). GST will completely restructure the way India does business. As the name suggests, GSTN is a network for Indian Businesses to upload their invoices for Tax processing and availing tax benefit.